Amendment of Act 27 of 1957

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....include, - (1) in relation to the assessment year commencing on the 1st day of April, 1969, or any earlier assessment year - (i) agricultural land and growing crops, grass or standing trees on such land; (ii) any building owned or occupied by a cultivator of, or receiver of rent or revenue out of, agricultural land : Provided that the building is on or in the immediate vicinity of the land....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....lump sum grant; (iii) any interest in property where the interest is available to an assessee for a period not exceeding six years from the date the interest vests the assessee;; (b) in section 5, in sub-section (1), - (i) after clause (iv), the following clause shall be inserted with effect from the 1st day of April, 1970, namely :- "(iva) agricultural land belonging to the assessee ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

...."(viiia) growing crops (including fruits on trees) on agricultural land and grass on such land;"; (iii) for clause (ix) and the Explanation thereto, the following clause (ix) and Explanation shall be substituted with effect from the 1st day of April, 1970 namely :- "(ix) the tools, implements and equipment used by the assessee for cultivation, conservation, improvement or mainte....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....amount of net wealth on which, in accordance with the rates of wealth-tax specified in Paragraph A of Part I of the Schedule or Part II of the Schedule, the wealth-tax chargeable is nil, or (B) the net wealth assessed under section 17, where assessment has been made under that section, as reduced by - (1) the net wealth, if any, assessed previously under section 16 or section 17, or (2) the ....